VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.27 Million in Hamilton Lane Inc. $HLNE

Key Points

• Virginia Retirement Systems acquired 16,100 Hamilton Lane shares worth approximately $1.27 million during the second quarter, while institutional investors and hedge funds collectively own 97.4% of the stock.
• Hamilton Lane exceeded quarterly expectations, reporting $1.94 in earnings per share versus a $1.53 consensus estimate and $275.3 million in revenue, up 56.5% year over year.
• The company authorized a $100 million share repurchase program and declared a quarterly dividend of $0.60 per share, equivalent to a 2.5% annualized yield; analysts maintain a “Moderate Buy” consensus with a $131.57 target price.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,100 shares of the company's stock, valued at approximately $1,269,000.

Other large investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in shares of Hamilton Lane by 7,651.1% in the second quarter. California State Teachers Retirement System now owns 3,798,581 shares of the company's stock valued at $299,442,000 after purchasing an additional 3,749,574 shares during the period. AlphaGrep UK Ltd acquired a new position in shares of Hamilton Lane during the 2nd quarter worth about $687,000. Concurrent Investment Advisors LLC lifted its stake in Hamilton Lane by 39.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,104 shares of the company's stock valued at $245,000 after buying an additional 876 shares in the last quarter. AXQ Capital LP purchased a new position in Hamilton Lane in the 2nd quarter valued at about $3,575,000. Finally, Harbor Investment Advisory LLC purchased a new position in Hamilton Lane in the 2nd quarter valued at about $58,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Lane Price Performance

Hamilton Lane stock opened at $95.98 on Friday. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $95.25 and a 200 day moving average price of $93.35. Hamilton Lane Inc. has a 12-month low of $71.88 and a 12-month high of $155.66. The stock has a market cap of $5.33 billion, a P/E ratio of 14.63 and a beta of 1.19.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.41. Hamilton Lane had a net margin of 32.14% and a return on equity of 25.10%. The company had revenue of $275.33 million for the quarter, compared to analyst estimates of $221.94 million. During the same period in the previous year, the business posted $1.47 EPS. Hamilton Lane's revenue was up 56.5% on a year-over-year basis. Sell-side analysts anticipate that Hamilton Lane Inc. will post 7.25 earnings per share for the current year.

Hamilton Lane announced that its board has initiated a stock repurchase program on Thursday, May 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Hamilton Lane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Monday, September 21st will be issued a $0.60 dividend. The ex-dividend date is Monday, September 21st. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. Hamilton Lane's dividend payout ratio is currently 36.59%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group boosted their price objective on Hamilton Lane from $114.00 to $131.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Morgan Stanley decreased their target price on Hamilton Lane from $141.00 to $123.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 21st. Oppenheimer lowered their price target on Hamilton Lane from $182.00 to $181.00 and set an "outperform" rating on the stock in a research note on Thursday, August 27th. BMO Capital Markets set a $94.00 price target on Hamilton Lane in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Hamilton Lane from $166.00 to $148.00 and set an "overweight" rating on the stock in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $131.57.

About Hamilton Lane

Hamilton Lane Incorporated is a global investment management firm focused on private markets. The company provides investment solutions and advisory services across private equity, private credit, venture capital, infrastructure, real estate and other alternative investment strategies.

Its offerings include customized separate accounts, commingled funds, specialized funds and direct investment programs. Hamilton Lane also provides portfolio management, investment monitoring, due diligence, asset allocation and related advisory services to institutional investors, financial intermediaries and private wealth clients.

Founded in 1991, Hamilton Lane serves clients internationally through operations spanning North America, Europe, Asia-Pacific and the Middle East.

Want to see what other hedge funds are holding HLNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hamilton Lane Inc. (NASDAQ:HLNE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.